Dearness Relief Payable to Pensioners for the Period August 2014 to January 2015
Indian Banks’ Association
HR & INDUSTIRAL RELATIONS
August 1, 2014
Designated Officers of all Member Banks
which are parties to the Bipartite Settlement on Pension
Dearness Relief payable to Pensioners
for the period August 2014 to January 2015
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base1960=100) for the quarter ended June 2014 are as follows:-
In terms of Regulation 37 of Bank Employees’ Pension Regulations, 1995 dearness relief is payable to pensioners at rates specified in Appendix II to the Regulations.
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Pending amendments to Pension Regulations, Banks may pay on ad hoc basis, the dearness relief payable to pensioners for the period August 2014 to January 2015 as per Annexure.
K S Chauhan
Senior Vice President